Is the XRP ETF Finally Happening? You Won’t Believe This! 😲

What to know:

The SEC is finally taking a look at the WisdomTree XRP Trust. Yes, you heard that right! A proposed spot ETF that lets you dip your toes into XRP without actually owning any tokens. Because who needs ownership, right? 🙄
This is the first time the SEC is reviewing a U.S.-based spot XRP ETF. It’s like the first pancake—let’s hope it doesn’t flop! 🥞
The SEC has a whopping 240 days to decide. That’s like waiting for a bus that’s always late. Meanwhile, they want to hear from the public about market manipulation and investor protection. Because, you know, they care. 😏

The U.S. Securities and Exchange Commission (SEC) has officially kicked off a review of the WisdomTree XRP Trust. This proposed spot exchange-traded fund (ETF) is supposed to give investors a taste of XRP without the hassle of actually owning it. Sounds convenient, right? Or just plain weird?

Filed by the Cboe BZX Exchange, this application is the first formal SEC review of a U.S.-based spot XRP ETF. If they give it the green light, it’ll be the first spot XRP ETF in the U.S. It’s like a milestone, but for crypto. Who knew we’d be celebrating milestones in digital currency? 🎉

The product will track XRP’s market price through the CME CF Ripple-Dollar Reference Rate. So, you can get your XRP fix through traditional brokerage accounts. No private keys or self-custody needed. Just sit back and let someone else handle your money. What could go wrong? 😅

The SEC has published its notice under Release No. 34-103124, which sounds important. They now have up to 240 days to either approve or reject this filing. It’s like a reality show, but with more paperwork and fewer roses. 🌹

In the meantime, they’re asking for public comments on whether the ETF’s design is good enough to tackle market manipulation and investor protection. Because, you know, they’re really into public opinion. Who doesn’t love a good survey? 📊

Meanwhile, Ripple’s Chief Legal Officer, Stuart Alderoty, sent a letter to the SEC’s crypto taskforce this week, insisting that XRP shouldn’t be treated as a security. Because why not throw a little more confusion into the mix?

Today, @Ripple submitted an additional letter to the SEC’s Crypto Task Force addressing a key question from Commissioner Peirce’s “New Paradigm” speech: When does a digital asset separate from an investment contract?
We appreciate the continued engagement with the Task Force.…
— Stuart Alderoty (@s_alderoty) May 27, 2025

“Rules must be clear not just for issuers, but for all market participants who could be unwittingly classified as securities exchanges, brokers, dealers, or issuers,” Alderoty wrote. He added that relying too much on vague terms like “fully functional” or “decentralized” just creates more confusion. Because who doesn’t love a good regulatory headache? 🤕

2025-05-28 11:27

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